Kiel Working Papers, Kiel Institute for World Economics
No 1195:
The EU Emissions Trading Scheme: Allowance Prices, Trade Flows, Competitiveness Effects
Gernot Klepper and Sonja Peterson
Abstract: The upcoming European Emissions Trading Scheme (ETS) is
one of the more controversial climate policy instruments. Predictions about
its likely impact and its performance can at present only be made to a
certain degree. As long as the National Allocations Plans are not finally
settled, the overall supply of allowances is not determined. In this paper
we identify key features and key impacts of the EU ETS by scanning the
range of likely allocation plans using the simulation model DART. The
analysis of the simulation results highlights a number of interesting
details in terms of allowance trade flows between member countries, of
allowance prices, and of the role of the accession countries in the ETS.
Keywords: EU emissions trading scheme, Kyoto targets, computable general equilibrium model, DART; (follow links to similar papers)
JEL-Codes: D58,; F18,; Q48,; Q54; (follow links to similar papers)
29 pages, January 2004
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